Mountain Lake Investment Management LLC Acquires 236,300 Shares of ViaSat, Inc. (VSAT)
Mountain Lake Investment Management LLC increased its holdings in shares of ViaSat, Inc. (NASDAQ:VSAT) by 1,263.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,000 shares of the communications equipment provider’s stock after acquiring an additional 236,300 shares during the period. ViaSat makes up 6.6% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 3rd largest holding. Mountain Lake Investment Management LLC owned about 0.44% of ViaSat worth $16,881,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Quantbot Technologies LP purchased a new position in ViaSat in the 1st quarter worth approximately $105,000. PNC Financial Services Group Inc. boosted its stake in ViaSat by 9.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,582 shares of the communications equipment provider’s stock valued at $105,000 after purchasing an additional 131 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ViaSat by 13.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 216 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in ViaSat during the 2nd quarter valued at $203,000. Finally, World Asset Management Inc purchased a new stake in ViaSat during the 1st quarter valued at $206,000. 99.42% of the stock is currently owned by institutional investors and hedge funds.
VSAT has been the topic of several recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $89.00 price objective on shares of ViaSat in a research report on Sunday, August 13th. TheStreet downgraded shares of ViaSat from a “b-” rating to a “c” rating in a report on Wednesday, August 9th. Royal Bank Of Canada set a $50.00 price target on shares of ViaSat and gave the company a “sell” rating in a report on Tuesday, August 15th. Barclays PLC reiterated an “equal weight” rating and issued a $80.00 price target (down from $82.00) on shares of ViaSat in a research note on Monday, July 10th. Finally, Jefferies Group LLC set a $67.00 price objective on shares of ViaSat and gave the company a “hold” rating in a report on Sunday, September 10th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $73.90.
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ViaSat, Inc. (NASDAQ:VSAT) traded down 1.41% on Wednesday, reaching $66.27. The company had a trading volume of 132,681 shares. The stock has a market capitalization of $3.84 billion, a P/E ratio of 286.88 and a beta of 0.71. ViaSat, Inc. has a 1-year low of $57.75 and a 1-year high of $82.19. The stock’s 50 day moving average is $61.99 and its 200-day moving average is $64.46.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.03). ViaSat had a net margin of 0.82% and a return on equity of 1.21%. The business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $384.29 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that ViaSat, Inc. will post $0.05 EPS for the current fiscal year.
In other news, insider Bruce Leroy Dirks bought 1,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $59.78 per share, for a total transaction of $59,780.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.42, for a total value of $45,094.00. Following the completion of the transaction, the director now owns 10,300 shares in the company, valued at approximately $663,526. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,350 shares of company stock valued at $11,128,257. Insiders own 7.70% of the company’s stock.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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